​Islamic Financial Planning & Wealth Management

Islamic Financial Planning & Wealth Management

Author: Zurina Shafii, Zarinah Mohd Yusoff & Shahizan

Publisher: Islamic Banking and Finance Institute Malaysia (IBFIM

ISBN: 9789670149806

Weight:

Year: 2016

Page: 407pp

Price : RM78

Islamic wealth management has been seen as a subject of Islamic finance. The main basis of Islamic wealth management is that wealth belongs to Allah (s.w.t) and human beings are mere trustee. The main objective of Islamic wealth management is to achieve al-falah which means to be successful in this world and in the hereafter. Islamic financial planning, which the process is to look into one’s financial circumstances and then take steps to solve problems and achieve financial goals.

The scope of Islamic wealth management is divided into two, namely Islamic financial planning which includes cash flow and liability management; risk management and takaful; zakat and tax planning; retirement planning; and Islamic estate and waqf planning and also investment portfolio management which involved risk management and investment planning. It corresponds to the life-cycle of a person; from the time the person begin to earn an income until the day the person dies. It involves the process of wealth accumulation, wealth preservation, wealth purification and wealth distribution.